An index used to gauge the strength of the San Diego economy rose for a second straight month in May, with the "Index of Leading Economic Indicators" jumping by .3%. The gains of April of May follow 24 consecutive months of declines in the index, which is complied by the University of San Diego.
The report also revealed improved stock prices for San Diego-based firms and a hike in the number of building permits, perhaps in response to the increased demand being driven by the state's $10,000 new home tax credit (which, as we pointed out yesterday, is nearly depleted).
Although unemployment remains high and caution must be exercised, the report's authors suggest a third consecutive month of improved indicators could signal a turnaround for San Diego.
